Bengaluru-Based Mobisy Raises $3.5 Mn In Funding Led By SVCL

Bengaluru-Based Mobisy Raises $3.5 Mn In Funding Led By SVCL

The SaaS Company Will Use The Funding To Strengthen Its R&D And Power Expansion Plans

Mobisy, a provider of SaaS-based distribution technology solutions for consumer companies, has successfully closed its second round of venture capital funding of $3.5 Mn (INR 24 Cr), led by SIDBI Venture Capital Limited (SVCL). Ojas Partners (Mobisy’s investor in an earlier round), Triton Investment Advisors, and some individuals also participated in the round.

The Bengaluru-based SaaS company will use the funding to strengthen its R&D and power expansion plans through an intensified sales and marketing push.

Commenting on the development, Sajit Kumar from SVCL said, “We believe that Mobisy’s real-time insight-driven solutions for our country’s consumer goods retail ecosystem have the potential to streamline what is currently a very high-touch, inefficient system. This can mean better results for everyone in the ecosystem, from brands to distributors to retailers.”

Founded in 2007 by Lalit Bhise, Mobisy is one of the Deloitte Fast 50, Top 5 winners, selected by MIDAS, MIP, for the Manchester tour programme, this year.

The company is also looking forward to expanding its business in the UK as well as European market.

In 2012, the Mobisy had built Bizom, a SaaS-based suite of automation solutions tailormade for consumer companies. The platform delivers real-time insights for driving greater distribution efficiency that helps organizations to grow.

The company claims to have integrated its solutions with AI and ML to provide brands with the structure, visibility, and insights they require to enable decision-making, as part of all the solution offerings.

According to Cisco’s Global Cloud Index for the period 2013-2018, 59% of all cloud workflows will be delivered as software-as-a-service (SaaS) by the end of this year. An even braver prediction is that Infrastructure-as-a-service (IaaS) will drop down to 28% compared to the overwhelming 44% in 2013, and that only 13% will remain for workloads delivered as Platform-as-a-Service(PaaS).

While Mobisy, as claimed, has already been catering to over 250 companies including Parle Agro, Jyothy Laboratories Limited, Tata Steel, Fena, and Capital foods, the latest funding will help boost its product offerings while deepening and strengthening its market presence.

Author

An Electronics Engineer turned Business Journalist | Blogger | Previously associated with Network18, Clean India Journal and Mudra Communications, he has been writing on a variety of issues that include cryptocurrency, policy-related matters, blockchain, investments-destination, technology and other startup-related matters.